Estate Planning for the Digital Collector: Don’t let your NFTs disappear into Ether

• • 1 Comment

This blog was written by Raluca Gondor   Digital artwork and non-fungible tokens (NFTs) are gaining significant traction as part of a new era of collectibles, with a growing number of creators putting out exclusive digital content. The ten-year anniversary version of the Nyan Cat meme, Nike’s Cryptokicks, and a Tweet about Fyre Festival’s infamous cheese sandwich are just a few NFTs that have hit the market in recent months…..

Estate Planning for the Digital Collector: Don’t let your NFTs disappear into Ether Continue Reading »

Uncategorized

The Role of the PGT – When, Why and How?

• • 0 Comments

While estate lawyers are often presented with files that impact upon the rights of an incapable person, it is important to understand when, why and how the Public Guardian and Trustee (the “PGT”) becomes involved with such disputes. As noted on its website, and in general, the PGT acts as litigation guardian of last resort for parties under legal disability involved in civil litigation (and as a legal representative of….

The Role of the PGT – When, Why and How? Continue Reading »

Estate Litigation, Family Conflict, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Wills

No plan is usually not the best plan

• • 2 Comments

When faced with making decisions, doing nothing is an option and for some decisions that could be the most viable option. However, In the world of estate planning, doing nothing rarely turns out to be a good idea. We can all point to an example of executing a deceased’s estate gone wrong.  Most times a disastrous estate situation could have been avoided or mitigated if the deceased would have done….

No plan is usually not the best plan Continue Reading »

Estate Planning, Wills

A review of the use of a Principal Residence Exemption by a Trust

• • 2 Comments

With Toronto’s real estate market being too hot to handle, clients more frequently are calling to review their estate plans in relation to their real estate holdings. Inevitably, such discussion occurs within the context of their overall planning, which may include the use of family trusts (i.e. inter vivos trusts for the benefit of family members). Nominee planning and other strategies and issues aside, a topic raised when considering the….

A review of the use of a Principal Residence Exemption by a Trust Continue Reading »

Uncategorized

When Private Foundations Die

• • 4 Comments

[caption id="attachment_15461" align="aligncenter" width="750"] “Vanitas Still Life” by Pieter Claesz, 1630.[/caption] Private foundations are believed to be durable entities.  Perpetuity is assumed.  Canada Revenue Agency (CRA) data shows, however, that 2,319 private foundations closed during the period 2000 to 2021. Growth in Private Foundations There are currently 6,213 private foundations registered in Canada.  The private foundation is the fastest growing category of registered charities.  To provide perspective, from 2013 to….

When Private Foundations Die Continue Reading »

Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Inconsistency in CRA policy for dividends paid to a deceased beneficiary

• • 0 Comments

A recent article discussed taxation anomalies that occur due to timing differences between when a trust receives a dividend and subsequently pays and allocates a dividend to a beneficiary. CRA view 2016-0647621E5 provides that when a trust receives a dividend in the year and subsequently pays and allocates the dividend to a beneficiary in the same year, the allocation of the dividend for tax purposes occurs on December 31 of the year because….

Inconsistency in CRA policy for dividends paid to a deceased beneficiary Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues
Scroll to Top